BREAKING: Crypto Coming To PayPal/Venmo

Plus Compound continues its surge - passing MakerDAO in value locked

Happy Monday

The Lede

The week starts off with a BANG as CoinDesk breaks the news that PayPal and Venmo will soon be rolling out direct crypto buying and selling to its 325,000,000+ users.

Currently, details remain scant. CoinDesk sourced the story from 3 people with insider information, but PayPal hasn’t yet confirmed it.

One additional detail we got from the story suggests that PayPal will use multiple exchanges including Bitstamp and Coinbase to access liquidity.

It seems like the story is on pretty solid footing, and if it is true, it’s a big deal. The reality is that this move would create a massive new exposure footprint for bitcoin and whatever other cryptos might be included. As one commenter put it:

CashApp, Robinhood, Revolut now PayPal. What’s the tipping point at which #bitcoin gets so familiar it’s just part of the normalized consumer conversation?

PayPal now lets shops accept Bitcoin

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Community Commentary

Talk about putting your head in the lion’s mouth
Tony Sheng breaks down the latest phenomena in crypto

A Really Big Number We Should Be Paying Attention To  

$90,000,000+

That’s the amount seized by the New Zealand police (the most in their history) from Alexander Vinnik around the BTC-e exchange. Even though this seizure was about things that happened years ago, it’s hard to fully move to a mainstream narrative when so many people still association bitcoin with crime.


Final Thought

Ramp might not be serious about those type of numbers, but we are